The huge load of bad loans of public sector banks is not too much of a worryline for the government and a likely solution will be worked out soon, Union minister Santosh Kumar Gangwar said today.

Asked about a timeframe to resolve the issue, all that the minister said was the government will let it out soon. (PTI)

The huge load of bad loans of public sector banks is not too much of a worryline for the government and a likely solution will be worked out soon, Union minister Santosh Kumar Gangwar said today.

“Non-performing assets (NPAs) are not a subject to worry about too much. I think we will find a solution to the problem soon,” the minister of state for finance said on the sidelines of an event here.

Asked about a timeframe to resolve the issue, all that the minister said was the government will let it out soon.

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Bad loans of public banks rose by over Rs 1 lakh crore to Rs 6.06 lakh crore during April-December of 2016-17, the bulk of which came from power, steel, road infrastructure and textiles sectors. The gross bad loans stood at Rs 5,02,068 crore at the end of 2015-16.